CFO Reports Rs 3,200 Crore Order Book for Waaree Renewable Technologies

by IS_Indust

Waaree Renewable Technologies, armed with a robust order book totaling Rs 3,200 crore or 2.3 gigawatts (GW) from its engineering, procurement, and construction (EPC) contracts, is setting its sights on a threefold growth in the financial year 2024-25. The company aims to execute 1.8 GW of projects in FY25 and complete the cumulative 2.3 GW within the next 18 months.

Dilip Panjwani, the Chief Financial Officer (CFO) at Waaree Renewable Technologies, expressed confidence in the sector’s promising outlook, citing a healthy order book position that the company intends to sustain in the upcoming year. With an additional 13 GW capacity in its bidding pipeline, Waaree anticipates a significant increase in contracts from public sector companies, driven by the government’s heightened focus on transitioning to renewable energy sources.

Panjwani highlighted the company’s growing engagement with public sector units (PSUs), noting a rise from 10% to 15% in volume and up to nearly 35% in value within the order book. The bidding pipeline has expanded from 10 GW in FY24 to 13 GW, indicating a growth rate exceeding 30%.

Currently managing over 20 projects, Waaree has already completed several and aims to finalize the remaining ventures by the end of the current financial year. Looking ahead, the company plans to diversify into round-the-clock (RTC) renewable energy solutions and energy storage systems while expanding its EPC business. Transitioning from large-scale projects, Waaree is now targeting small-scale projects below a megawatt (MW) to broaden its market presence and offerings.

Read More: Click Here

Related Posts

Leave a Comment